Terms Not Defined Elsewhere Sample Clauses

The "Terms Not Defined Elsewhere" clause establishes how words or phrases that are not specifically defined within the agreement should be interpreted. Typically, this clause states that any undefined terms will carry their ordinary, commonly understood meaning, or may refer to definitions provided by applicable law or industry standards. By clarifying the approach to undefined terms, this clause helps prevent ambiguity and disputes over interpretation, ensuring that all parties have a clear understanding of the contract's language.